Benzinga | Dec 6, 2021 01:02PM EST

Avicanna's Shares Drop On Patent Application For Oral Cannabinoid Technology For Neurological Disorders

Cannabis-focused biopharmaceutical company Avicanna Inc. (TSX:AVCN) (OTCQX:AVCNF) (FSE:0NN) revealed Monday that it has filed a provisional patent application in the United States Patent and Trademark Office for novel technology for the treatment of various neurological diseases and disorders.

The Toronto-based company noted that oral administration of cannabinoids is the most convenient route for non-invasive drug delivery. However, due to the highly lipophilic nature and poor water-solubility of cannabinoids, elementary formulations currently available on the market generally have poor bioavailability and lack consistent drug delivery. Avicanna's proprietary compositions have been specifically designed to alter the hydrophobic nature of cannabinoids, resulting in enhanced drug solubility which leads to better absorption and bioavailability either sublingually or orally, thereby increasing the efficacy of cannabinoids.

"Our novel formulations overcome the current limitations of cannabinoid finished products in the market today and offer enhanced absorption of varying cannabinoid profiles with controlled delivery. We expect this will yield better patient outcomes and clinical results," said Dr. Frantz Le Devedec, executive vice president of research and product development at Avicanna.

The patent application entitled "Oral cannabinoid compositions and methods of treating neurological diseases and disorders" claims formulations that have been developed through Avicanna's R&D platform utilizing the company's proprietary self-emulsifying drug delivery systems (SEDDS) technology and include a range of drug delivery formats with varying release and absorption profiles including:

* Sustained and controlled-release tablets -- designed for linear release of the drug over time and thereby maximizing pharmacological properties and reducing side effects particular to cannabinoids.

* Oral capsules c self-emulsifying cannabinoid technology designed to enhance absorption through a fast and effective dispersion mechanism.

* Sublingual tablets -- designed to provide rapid absorption of cannabinoids through the sublingual membrane to reduce first-pass metabolism and provide a solution for acute symptom management.

The Price Action

Avicanna's shares traded 11.91% lower at $0.59 per share at the time of writing Monday morning.

Photo: Courtesy of Jeff W on Unsplash